ECONOMY

Most ELPE processing units are go at Elefsina

Hellenic Petroleum SA, Greece?s biggest refiner, has started most processing units at its Elefsina facility following an upgrade.

The revamped crude distillation units, vacuum plant, hydrogen and sulfur recovery facilities ?started up successfully,? the Athens-based company said on Tuesday in a statement on its website.

The refinery can process 100,000 barrels of crude a day, according to data compiled by Bloomberg.

A hydrocracker will be operational by the end of June, Chief Executive Officer John Costopoulos said on Tuesday on a conference call.

Earlier in the day the company announced a first-quarter profit of 71 million euros compared with a profit of 119 million euros in the same period a year earlier.

[Bloomberg]